Credit Management Services for Petroleum Industry
Petroleum credit management services for the oil and gas sector ranges from being very basic to intensely complex depending upon whether your customer base is domestic, foreign or both.
Regardless of jurisdiction, petroleum credit management still relies upon basic information and its assessment for risk.
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Extending Credit Internationally Assumes Higher Risk
As an international credit and collection firm, we frequently seek out data from foreign countries to adjudicate risk and obtain intelligence concerning overseas customers. In addition to helping our clients to extend credit terms internationally, PCM Corp is capable of managing multi-country teams, allowing for more excellent coverage and language capabilities.
Domestically, PCM’s experience with the petroleum industry is concentrated in the downstream sector, including bulk oilfield service sectors. Our engagements include:
In addition to these services, our U.S. division also works with private producers.
Large Balance Collections
As oil and gas accounts receivables are typically larger balances, it is vital that suppliers to the sector fully understand each oil company’s automated accounts payable systems. Your credit team should be intimately familiar with systems such as Oildex’s OpenInvoice and Cortera, to name a couple.
Many potential clients contact our offices looking for recovery assistance when the real issue is internal credit staff do not understand the nuances of the automated payables systems. If you master the automated payables systems, it is not uncommon to reduce your Days Sales Oustanding from 90+ days down to 42 days or less.
Hire An Experienced International Petroleum Credit Management Provider
Since 2005, Priority Credit Management Corp has developed global connections allowing us to act for oil and gas companies in almost 200 countries worldwide, including Iran, Iraq, Venezuela, Republic of Congo, and mainland China.
Choose a petroleum credit management provider that has proven experience in your industry. At PCM Corp, we understand it’s specific challenges and can help you increase your results. To learn more about our portfolio of work and expertise in the oil and gas sector, reach out to our team today.